World
Elon Musk makes history as world’s first trillionaire
Elon Musk has reportedly become the first person in history to see his net worth exceed the $1 trillion mark, following the pricing of SpaceX’s much-anticipated initial public offering (IPO) at $135 per share.
Before the IPO, Musk’s wealth was already estimated at about $813 billion, cementing his position as the world’s richest person.
The latest valuation of SpaceX significantly boosted the value of his holdings, pushing his fortune beyond the unprecedented $1 trillion threshold on paper.
The milestone further widens the gap between Musk and other global billionaires. According to Forbes estimates, his wealth before the IPO was already more than twice that of the world’s second-richest person, Google co-founder Larry Page, whose net worth is estimated at $288 billion.
The formal pricing of SpaceX shares at $135 each pushed Musk’s net worth to just over $1 trillion. The stock, which will trade under the ticker symbol “SPCX,” is expected to begin trading on Friday when the Nasdaq Composite opens at 9:30 a.m.
Musk’s fortune could rise further if SpaceX shares climb above the IPO price. However, a decline in the stock could see his wealth fall back below the trillion-dollar threshold.
The milestone highlights a level of personal wealth rarely seen in modern history. A trillion dollars rivals the economic output of some of the world’s largest economies. According to World Bank data, only 19 countries have gross domestic products exceeding $1 trillion, including the United States and the Netherlands.
The development has also renewed debate about wealth inequality. Oxfam America senior director of economic justice Nabil Ahmed described Musk’s growing fortune as evidence of a widening gap between the ultra-rich and the rest of society.
“Elon Musk’s rise to trillionaire status marks a new pinnacle of oligarchy,” Ahmed said.
The SpaceX IPO is also expected to create substantial wealth for thousands of employees and investors. According to the New York Times, approximately 4,400 SpaceX workers could become millionaires once trading begins.
Musk, however, remains the biggest beneficiary due to his substantial ownership stake in the company.
According to SpaceX’s IPO filing, Musk owns 4.8 billion shares of the company, representing about 42 percent of the business. He also holds 350 million stock options exercisable at $8.39 per share.
At the IPO price of $135 per share, Musk’s equity stake is valued at approximately $648 billion, while his stock options add another $44.3 billion to his wealth.
Forbes had previously valued Musk’s pre-IPO SpaceX holdings at around $500 billion. The public offering therefore adds roughly $192.3 billion to the value of his SpaceX stake, lifting his overall net worth to an estimated $1.005 trillion.
According to Oxfam, that fortune exceeds the combined wealth of the bottom 46 percent of the global population, or about 3.8 billion people.
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